Redwood Investment Management LLC Takes Position in The Boston Beer Company, Inc. (NYSE:SAM)

Redwood Investment Management LLC bought a new stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,935 shares of the company’s stock, valued at approximately $1,502,000.

Other large investors have also modified their holdings of the company. LRI Investments LLC purchased a new stake in Boston Beer in the first quarter valued at $28,000. Quarry LP acquired a new stake in Boston Beer during the 4th quarter worth $42,000. CWM LLC boosted its holdings in shares of Boston Beer by 17.6% in the fourth quarter. CWM LLC now owns 227 shares of the company’s stock valued at $78,000 after acquiring an additional 34 shares in the last quarter. Principal Securities Inc. purchased a new stake in Boston Beer during the fourth quarter worth about $82,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Boston Beer during the first quarter worth about $111,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Performance

Shares of NYSE:SAM traded down $1.93 on Thursday, hitting $278.28. The stock had a trading volume of 6,173 shares, compared to its average volume of 173,546. The firm’s 50 day moving average price is $287.05 and its 200-day moving average price is $304.22. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 1.14 and a beta of 1.03. The Boston Beer Company, Inc. has a twelve month low of $254.40 and a twelve month high of $395.52.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The business had revenue of $579.10 million for the quarter, compared to analyst estimates of $597.33 million. During the same quarter in the previous year, the company posted $4.72 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, sell-side analysts predict that The Boston Beer Company, Inc. will post 9.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SAM. Royal Bank of Canada cut their price target on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. StockNews.com cut shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. The Goldman Sachs Group lowered their price objective on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Finally, Piper Sandler decreased their price target on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $326.92.

About Boston Beer

The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.